Here are the highlights:
1. If you've rooted your phone, it's probably a good idea to NOT install the update
2. Be aware that even if you don't manually accept the update, you may get it anyway if it gets pushed automatically, causing you phone to to have problems booting...so you may want to take steps to block it.
3. If you REALLY want to install the OTA update, it's probably best (in my opinion) to un-root and return to stock first
4. Be aware that any official update you install can break current methods/exploits known to obtain root and/or unlock your bootloader. In other words, you may not be able to get root back if you install it...but that has yet to be determined
5. There are alternatives to the OTA. As this version being released (assuming something doesn't happen to delay this OTA) has already been leaked, you can literally install this exact version right now if you're rooted with unlocked bootloader and custom recovery:
Ultimately, it's up to you -- I'm not trying to tell anyone what to do, nor will I take responsibility regardless of the choice you make -- but I know that every time a new OTA update rolls out, there are usually quite a few posts that spring up from folks who install it on a rooted stock device who end up with a phone that won't boot. I'm just trying to put this info out there to help some of the noobs out there (and we've ALL been noobs at one point or another) make an informed decision for themselves.
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